- 20,000+ Berliners hosted more than half a million guests in 2015
- Renting out flats as a source of income has become more and more popular.
- "Zweckentfremdungsverbot" law was passed in May 2014 but only came into force in April 2016.
2 December 2016
Our paper uses data from various sources for the period of 2010 to 2014:
Statistical Information System Berlin/Brandenburg (SBB)
Federal Statistical Office and the statistical offices of the Länder (FSO)
InsideAirbnb.com
Eurostat
Dependent variable:
\[{Occupancy Rate}_{it} = \frac {{Overnight Stays}_{it}}{{Hotel Beds}_{it}*{days}_{t}}\]
Main independent variables:
Airbnb Supply: Cumulative sum of new listings
Dynamic Airbnb Supply: Active listings based on reviews
Fixed Effects (for time and district) to account for unobserved heterogeneity:
\({\log Occupancy Rate}_{it} = \beta _i * \log AbbSupply_{it} + \beta _j * X' + \tau _i + \varepsilon _{it}\)
\({X'}\): Control variables (UE rate, average HH income, air passengers arriving in Berlin)
\({\tau _i}\): Time and district dummies
| Dependent variable: | ||||
| Occupancy Rate | ||||
| LM (1) | FE (2) | FE (3) | FE (4) | |
| Log Airbnb Listings | 0.009*** | 0.026*** | -0.010*** | -0.013*** |
| (0.003) | (0.004) | (0.002) | (0.002) | |
| Average HH Income (Log) | -0.139* | -0.388* | -0.280*** | -0.243*** |
| (0.078) | (0.202) | (0.096) | (0.094) | |
| Unemployment Rate | 0.141 | 0.862** | 0.351* | 0.345* |
| (0.152) | (0.406) | (0.194) | (0.188) | |
| Incoming Passengers | 0.00000*** | 0.00000*** | ||
| (0.000) | (0.000) | |||
| Market Entry | 0.036*** | |||
| (0.006) | ||||
| Neighbourhood-specific trend | Yes | No | No | No |
| Time trend | Yes | No | No | No |
| District/Time FE? | No | Yes | Yes | Yes |
| Observations | 720 | 720 | 720 | 720 |
| R2 | 0.996 | 0.077 | 0.790 | 0.802 |
| Adjusted R2 | 0.995 | 0.075 | 0.773 | 0.783 |
| Note: | p<0.1; p<0.05; p<0.01 | |||
| Dependent variable: | |
| Occupancy Rate | |
| Airbnb Listings | 0.00004** |
| (0.00002) | |
| Sqrd. Airbnb Listings | -0.000 |
| (0.000) | |
| Average HH Income (Log) | -0.858*** |
| (0.118) | |
| Unemployment Rate | 0.825*** |
| (0.170) | |
| Incoming Passengers | 0.00000*** |
| (0.000) | |
| Market Entry | 0.027*** |
| (0.006) | |
| District/Time FE? | Yes |
| Observations | 720 |
| R2 | 0.795 |
| Adjusted R2 | 0.775 |
| Note: | p<0.1; p<0.05; p<0.01 |
Thank you!
Questions?
Guttentag, Daniel. 2015. “Airbnb: Disruptive Innovation and the Rise of an Informal Tourism Accommodation Sector.” Current Issues in Tourism 18 (12). Taylor & Francis: 1192–1217.
Schäfer, Philipp, Nicole Braun, Richard Reed, and Nicole Johnston. 2016. “Misuse Through Short-Term Rentals on the Berlin Housing Market.” International Journal of Housing Markets and Analysis 9 (2). Emerald Group Publishing Limited.
Zervas, Georgios, Davide Proserpio, and John Byers. 2016. “The Rise of the Sharing Economy: Estimating the Impact of Airbnb on the Hotel Industry.” Boston U. School of Management Research Paper, no. 2013-16.